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DTN Early Word Grains 04/17 05:48
Grain Markets Slightly Higher as Corn, Wheat Remain Rangebound
May corn is up 1 1/4 cents per bushel, May soybeans are up 1 1/4 cents, July
KC wheat is up 1/4 cent, May Chicago wheat is up 4 1/2 cents and May
Minneapolis wheat is up 3 1/4 cents.
Kent Beadle, DTN Contributing Analyst
EARLY MORNING GLOBEX NET CHANGES: May corn is up 1 1/4 cents per bushel, May
soybeans are up 1 1/4 cents, July KC wheat is up 1/4 cent, May Chicago wheat is
up 4 1/2 cents and May Minneapolis wheat is up 3 1/4 cents.
CME GLOBEX RECAP: World equity markets are mostly higher Wednesday morning
despite hawkish comments Tuesday from Fed Chairman Powell, and higher interest
rate yields. On Tuesday, the 10-year note closed at 4.66%, the highest level in
nearly 6 months. The Dow Jones Industrial Average broke its losing streak on
Tuesday, but the broader S&P 500 closed lower. Tuesday's new data on Housing
Starts and Industrial Production both came in a little lower than trade
expectations, which was welcome given the recent inflation data that has been
trending higher. The only impactful report Wednesday morning will be the
release of the Fed Beige Book.
OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial
Average up 63.86 at 37,798.97 and the S&P 500 down 10.41 at 5,051.41, The
10-Year Treasury yield ended at 4.66%. Early Wednesday, the June Dow Jones
Futures are up 177 points. European markets are higher with the spot futures of
London's FTSE 100 trading up 0.58%, spot futures of Germany's DAX is trading up
0.82% and the spot futures of France's CAC 40 Index up 1.27%. Asian markets are
mixed with Japan's Nikkei 225 Index down 1.32% and China's Shanghai Composite
Index up 2.14%.
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